Fitch Downgrades Long Beach MBS Classes

April 23, 2007, 2:00 p.m. EDT 1 Min Read

Twenty-three classes from 10 Long Beach Mortgage Loan Trust transactions have been downgraded by Fitch Ratings.Fitch also affirmed the ratings on 91 classes from 21 Long Beach transactions. The negative rating actions were attributed to a continued deterioration in the relationship between credit enhancement levels and loss expectations. All the mortgages in the various transactions -- consisting of fixed- and adjustable-rate subprime loans -- were either originated or acquired by Long Beach Mortgage Co.

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